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Cryptocurrency ATM company CoinFlip has announced a new fund venture set to boost the new Web3 ecosystem. news release Fintech companies shared on Wednesday.
Funded by a Chicago-based crypto company for $ 1 million, CoinFlip Ventures seeks to support start-ups and entrepreneurial teams across the Web3 space.
In particular, the company seeks to support the efforts of college students and other undervalued developer initiatives.
CoinFlip Ventures supports a team of developers and projects focused on driving growth in decentralized finance (DeFi), NFTs, marketplaces, and tokenization.
Applicants must work on the project at the pre-seed or early stage level. For such projects,Prototype, service model, or business plan [are] Not profitable yetThe company advised stakeholders through a press release.
Successful candidates will receive up to $ 250,000 in financial support, including CoinFlip executive team members, as well as industry insights, business advice, and networking opportunities.
“”We are honored to have learned a lot through trial and error since our founding and to pass on our knowledge and resources to the startups we believe in.“The founder of the Coin Flip, Daniel Polotsky, said in a statement.
CoinFlip is the world’s largest crypto ATM operator, with more than 4,000 counters in 49 states. The company started operations in 2015 and has grown to include The Trade Desk announced in 2021.
